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Supplement to the Schwab Annuity Portfolios prospectuses dated April 30, 2000.
A Special Meeting of Shareholders of Schwab Annuity Portfolios will be held on
June 1, 2000 for the following express purposes:
1. To elect trustees of each fund to hold office until their successors
are duly elected and qualified; and
2. To eliminate, reclassify or amend certain fundamental investment
policies and restrictions of the Schwab Money Market Portfolio.
The close of business on March 3, 2000 was designated as the record date for
determining those shareholders entitled to notice of the Meeting (and any
adjournments thereof) and entitled to vote at the Meeting. The Schwab Annuity
Portfolios understand that life insurance company shareholders will vote their
shares according to timely instructions they receive from contract owners that
have allocated contract values to the funds as of the record date, and that they
will vote shares for which they receive no timely instructions in proportion to
the shares for which they receive timely voting instructions. If you became a
contract owner after March 3, 2000, you will not be entitled to give voting
instructions at the Meeting.
As set forth in the proxy materials, action taken at the special meeting will
affect your fund.
Please retain this supplement for future reference.
(04/30/00)
